The property purchased before marriage belongs to individuals, and their spouses have no right to divide it. Therefore, some parents in crisis will choose to buy real estate in the name of their children in advance, thus avoiding the risk of divorce and property division.
Although minor children can buy a house by themselves, they are unable to repay their debts, and the target of bank loans is a natural person with full civil capacity, so minors cannot make bank loans when buying a house.
The disadvantages of buying a house in the name of a child
On the one hand, parents buy houses for their children out of consideration for their lives, and on the other hand, they want to reduce their troubles in their later years. However, after buying a house for children, children will become the owners of the house. If there are any accidents in the later period, such as children failing to fulfill their obligations to support the elderly, it will be very difficult for parents to recover the ownership of the house, because the owner belongs to the children.
Although parents must come forward to buy a house for their minor children, parents as guardians cannot dispose of the house at will, including transactions and mortgages. These actions must obtain the consent of the property owner. When making a transaction, you should also show a statement and the signatures of minor children. Otherwise, once a dispute occurs, all transactions will be declared invalid by the court, which may lead to conflicts with both parties to the transaction.
What should I pay attention to when buying a house for my child?
People's Network-Parents are not allowed to buy a house in the name of their children.